Lawmakers, Batbayar Nyamjav (MDP) and Byambatsogt Sandag (MPRP) have submitted a draft law to amend the Minerals law to Speaker Demberel Damdin on July 29, 2009.
The draft law proposes to reduce 30 year duration of investment agreements to be concluded over strategically important mining deposits down to 15 years. Currently, Oyu Tolgoi draft Investment Agreement has 30 years duration for initial term. If the amendment is passed before OT IA approval, duration of the first term of the IA will change to 15 years accordingly.
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» Draft law to amend current Minerals law submitted by two lawmakers
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